Las Vegas Sands (LVS) CEO Sheldon Adelson is joining other casino companies in opposition of clean energy legislation currently being debated in Nevada. The bill would boost the solar and wind energy used in the state.
The bill mandates that at least 40% of the energy used in Nevada come from clean energy sources by 2030, thats up from the current target of 25% by 2025.
"We have one of the best solar environments in the world and the cost of wind is at an all-time low," said Nevada Assemblyman Chris Brooks, the bill's sponsor.
Governor Brian Sandoval has expressed concerns about what the bill might do to energy prices in the state.
What's Hot on TheStreet
Respect the stock charts: Don't feel too relieved by volatile tech name Nvidia (NVDA) finishing in the green on Monday after a violent selloff.
Nvidia underwent a "key reversal" on Friday that could send the stock plunging another 36%, BMO technical analyst Russ Visch said in a new note. Visch points out that normally, these pullbacks tend to lead to the stock falling back to its 200-day moving average. In the case of Nvidia, the 200-day moving average is $96.70, or $36% below Monday's closing price of $149.97. "Considerable downside risk exists here," said Visch.
On Friday, shares of Nvidia were off to another big rally, hitting new all-time highs of $168.50 following an analyst pontificating the stock could surge to $300. But the party abruptly ended Friday afternoon and continued into most of Monday's trading session. The reversal in one of the hottest tech stocks around spooked the market, pressuring shares of other high-flyers in the space such as Amazon (AMZN) and Apple (AAPL) .
Apple and innovation: The reality of the here and now is that the public and would-be buyers of Apple's stock harbor greater doubts about Apple's ability to innovate than in many years, reports TheStreet. Apple did nothing to quiet those concerns by introducing its new voice activated speaker, sources explained to TheStreet.
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